Stocks On The Move - November 28
After two months of decline, the market looks like is heading back up again with three days of consecutive gain. The buyers all rushed in fearing they'll missed the big bounce and push Dow up 331 points and Nasdaq up 3.18%. Despite continuous worry on credit crisis, hope of more rate cut from Fed lights hope for the traders.
Citigroup Inc. (C), is among the biggest winners of the day gaining 6.5% to $32.29 as the company received $7.5 billion funding from Abu Dhabi Investment Authority. Another winner on NYSE is the hard hit government backed mortgage issuer Freddie Mac(FRE) with shares surging 14.34% to $29.42 per share after the company annouced plan to raise more capital. On Nasdaq, the troubling online investment brokerage firm ETrade (ETFC) rose 7.54% to $5.28 per share as the stock draws bargain hunters.
Despite the broad market rally there are still losers such as Marvell Technology(MRVL) with shares down 10.3% to $14.92 after the company swung to net loss for the third quarter.
Citigroup Inc. (C), is among the biggest winners of the day gaining 6.5% to $32.29 as the company received $7.5 billion funding from Abu Dhabi Investment Authority. Another winner on NYSE is the hard hit government backed mortgage issuer Freddie Mac(FRE) with shares surging 14.34% to $29.42 per share after the company annouced plan to raise more capital. On Nasdaq, the troubling online investment brokerage firm ETrade (ETFC) rose 7.54% to $5.28 per share as the stock draws bargain hunters.
Despite the broad market rally there are still losers such as Marvell Technology(MRVL) with shares down 10.3% to $14.92 after the company swung to net loss for the third quarter.
posted by Stock Geek at
11:59 PM
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